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Lake Tahoe - Truckee, CA Real Estate for Sale

Tahoe Real Estate, Homes Sold, June 2012

Tahoe Real Estate, Homes Sold, June 2012

June 11, 2012 By Laura Allen, Tahoe REALTOR, 530-414-1260, CalRE# 01473598

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Tahoe Real Estate, Homes Sold, June 2012

West Shore Lake Tahoe View from Talmont, Tahoe City, CAThe greater Lake Tahoe – Truckee region is known for its amazing outdoor lifestyle, quality of life, small town living, and raw beauty.

In the Tahoe real estate market you’ll find tiny, old Tahoe cabins that are nearly 100 years old, along with multi-million dollar luxury lakefront estates, ski-in ski-out luxury mountain homes, lake view and mountain view estates that define the ultimate in mountain luxury living.  You’ll also find bank foreclosures, fixers, and wonderful mountain homes.

Tahoe Homes for Sale:

The Tahoe – Truckee region covers a large area.  This report is made up of many communities including all of the Tahoe City area, Carnelian Bay, Tahoe Vista, Kings Beach, Homewood, Tahoma, North Lake Tahoe, West Lake Tahoe, Alpine Meadows, Olympic Valley, Northstar, Truckee, Glenshire, Tahoe Donner, Soda Springs, the Truckee River corridor, Tahoe Donner Summit area, and the outlying areas that surround the Truckee, California area.   

Tahoe Real Estate Sold Single Family Homes:

In the Tahoe – Truckee, California, lakefronts, mountain homes, and cabin prices averaged $400,000, which is a price decrease of 5.99% from 2011.  We would expect the average median sales price for the rest of the year to move higher as new home listings replaces older listings that have sold, which have been distressed sales.  Since the market peak in 2006, the average median home sales price in the Tahoe – Truckee market dropped -41%. 

Tahoe Real Estate, Homes Sold, June 2012 There were 385 single family homes sold for the first 5 months in 2012.  Of those sales, 11 were lakefronts ranging in sold price from $400,000 to $11 million.  Lakefront sales included Glenshire Pond, Donner Lake, and Lake Tahoe.  Tahoe – Truckee luxury lakefront sales were 3% of the market.  Homes sold up to $499,999 represented 68% of the market, or approximately 2 out of every 3 homes sold.          

Cash sale transactions for Tahoe – Truckee area dropped slightly to 32%, which is approximately 1 out of every 3 homes sold.   

The current absorption rate for Tahoe – Truckee area as of 06/10/2012 is at 8.65 months.  Anything above 7 months of inventory is considered a Buyers’ market, 5-7 months is a balanced market, and below 5 months is a sellers’ market.  If the inventory levels continue to drop, the Tahoe – Truckee market will become a balanced market.        

There were 157 distressed sales (bank foreclosures- real estate owned (REO’s), short sales, and court approval sales), or 41% of the market was a distressed sale for the first five months of 2012.  As of 06/01/2012 only 13% of the active homes available for sale were distressed sellers, which is a significant improvement, and may be signaling a fundamental change in market conditions.  

There were 701 Active – available houses, cabins, and lakefronts for sale in the Tahoe-Truckee region as of 06/10/2012.   Houses, cabins, and lakefront properties ranged in price from $39,900 to $20 million.  Of the 701 houses offered for sale there were 17 REO listings, 75 Short Sales listings, and 2 Court Approval listing, which now only represents 13% of the market as distressed sellers, which is a 28% improvement over the 2012 YTD distressed seller rate of 41%.  There were 140 pending sales in the Tahoe – Truckee region ranging in listed price from $43,000 to $3,149,000 as of 06/10/2012.

Given the tight housing inventory situation for the Tahoe-Truckee region, and the significant reduction in distressed sellers, the next step for the Tahoe – Truckee market will be price stabilization and price improvement.

Tahoe Real Estate Sold Homes Summary:

 

Year

 

Homes

Sold

Median Average Sales Price

 

Lowest

Price Sold

 

Highest

Price Sold

%

 Cash

Transactions

Absorption Rate

< 5 months Sellers Mkt

5-7 months balanced Mkt

>7 months Buyer’s Mkt

%  Distressed

Sales

Breakdown

of

Distressed

Sales

2012*

385

$400,000

$47,500

$11,000,000

32%

8.65 Months

Buyers’ Market

41%

80  REO’s

74 Short Sales

3 Trustee Sales

2011

964

$425,500

$9,900

$6,450,00

35%

NA

32%

3 Court Approval

167  REO’s

142 Short Sales

2010

866

$461,074

$37,000

$12,400,000

31%

NA

30%

5 Court Approval

151 REO’s

108 Short Sale

2009

792

$510,000

$33,000

$6,288,000

29%

NA

20%

2 Court Approval 128 REO’s

87 Short Sales

 

2008

665

$590,000

$40,000

$20,000,000

21%

NA

0%

8 REO’s

0 Short Sales

2007

715

$645,000

$145,400

$12,400,000

17%

NA

0%

0 REO’s

0 Short Sales

2006

807

$680,000

$107,500

$16,700,000

15%

NA

0%

0 REO’s

0 Short Sales

*YTD period is 01/01/2012 – 05/31/2012.  Absorption rate as of 06/10/2012.  Data Source:  Tahoe Sierra Multiple Listing Service (TSMLS) and is subject to change and/or correction without notice.

Thinking about making Tahoe City, California your second home? Check out the homes that are for sale in Tahoe City here:

Want to see what condos are for sale in Tahoe City? Here are the current listings:

  • Tahoe City Homes for Sale
  • Tahoe City Condos for Sale
  • Tahoe City Lakefront Homes for Sale
  • Lake Tahoe Lakefront Homes for Sale
  • North Shore Lake Tahoe Homes for Sale
  • West Shore Lake Tahoe Homes for Sale

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260  | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

Tahoe Real Estate, Homes Sold June 2012 

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Laura Allen | 530.414.1260

CalRE# 01473598 | Broker Associate

Coldwell Banker| CalRE# 01908304, Tahoe City, CA 96145

Copyright © 2023 | Laura Allen | CalRE# 01473598 | www.TahoeLauraRealEstate.com | 530-414-1260 | Laura@TahoeLaura.com | Coldwell Banker Realty | 475 N. Lake Blvd., Tahoe City, CA 96145 | Log in

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